India's CARE Ratings gains on JV with Vestian Global

CARE Ratings

18/03/2026 06:29

** CARE Ratings CREI.NS rises as much as 2.2% to 1,588.5 rupees; on track to snap 3 sessions of losses

** Co approves incorporation of company - a 50-50 JV with Vestian Global Work Place Services; to be tentatively completed by June 30

** Says it will invest ~225 mln rupees ($2.4 mln) as initial equity share capital contribution

** Adds proposed co helps global enterprises set up, run Global Capability Centres in India

** Proposed company will require SEBI NOC

** CREI last up 1.4%, cutting YTD losses to 2.9%

($1 = 92.4370 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)

 ((meenakshi.maidas@thomsonreuters.com;))